13 seconds ago 2009-12-04T07:47:04-08:00
NEW YORK - The European Commission objected to software company Oracle Corp's acquisition of computer maker Sun Microsystems Inc, citing a threat to competition, bringing the $7 billion deal into question.
The Commission said on Monday that a combination of Sun's MySQL database product and Oracle's products could hurt competition in the database market, Sun revealed in a filing with the U.S. Securities and Exchange Commission.
Oracle said the Commission's objection "reveals a profound misunderstanding" and that it "plans to vigorously oppose the Commission's Statement of Objections".
Oracle Chief Executive Larry Ellison recently said Sun is losing about $100 million a month because of uncertainty about its future, as European antitrust regulators pursue an in-depth investigation of the deal.
